Asian Development Bank is offering the Philippines up to $1.75 billion in crisis support loans to help cushion the impact of rising food and fuel prices on Filipino households and businesses.
In a statement, the ADB said the proposed assistance aims to help the government manage growing fiscal pressures through policy-based and countercyclical lending. The amount is separate from the nearly $2 billion in policy-based loans already being prepared for the country this year.
The offer was discussed during a meeting between ADB President Masato Kanda and Ferdinand Marcos Jr. at Malacañang Palace.
“The Philippines is ADB’s home, and we see the strain this crisis is placing on Filipino families, workers, and businesses,” Kanda said. “ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience.”
The development came after the ADB downgraded the Philippines’ economic growth forecast for 2026 to 4.4 percent from the earlier 5.3 percent projection issued in December. The bank also raised its inflation outlook to 4 percent amid higher global oil prices and increasing costs of food and basic commodities.
Government data showed the country’s inflation rate accelerated to 7.2 percent in April due to surging food and fuel prices.
